In a groundbreaking development, President Bola Ahmed Tinubu, the newly elected Chairman of the Economic Community of West African States (ECOWAS), has unveiled his ambitious plans to revolutionize the region’s economic and political landscape.
Tinubu’s focus is on the need to promote economic growth within ECOWAS. He plans to develop detailed economic plans tailored to the specific needs of the region, with a strong emphasis on encouraging trade and investment among member countries. To highlight the importance of economic recovery, he will organize a major trade and investment summit on October 23, 2023.
He specifically said that:
“In furtherance of my vision for our region’s economic recovery and growth, Nigeria intends to convene an ECOWAS Extra-Ordinary Summit on Trade and Investment in October 2023.
“The event will provide an opportunity for member states to showcase their potential and encourage match-making, in order to evolve business cooperation among the various organized private sectors within the region.”
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Citizens should benefit from their taxes
Additionally, he stresses that the taxes paid by citizens should directly benefit them through impactful programs and projects, which emphasize the need to unlock the region’s economic potential and foster social integration.
He also said that:
“Given that community levy remained the biggest source of generating funds to run our organization, we must ensure that our citizens being taxed must be positively impacted by the programmes and projects of ECOWAS. This is in line with the shift of the ECOWAS slogan from ‘ECOWAS of State’ to ‘ECOWAS of People.”
Tinubu believes that the private sector should play a leading role in driving economic integration. He also aims to remove obstacles that hinder trade within the region and create an environment that is favorable for businesses to thrive, which he believes can be done by fostering trade, investment, and cooperation among member states. Tinubu hopes to generate employment opportunities and ensure sustainable development for its citizens.
He claimed that:
“We would work collectively to pursue an inclusive economic integration, which will be significantly private-sector driven, in order to unlock the vast economic potentials of our region.
“We would actively promote trade, investment, and business cooperation among member states by addressing the barriers impeding intra-regional trade, as well as creating a conducive business environment.
“We must encourage economic partnerships to raise the level of trade and investments in our region, hence facilitating employment creation and sustainable development and prosperity for our citizens.”
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Tinubu believes in democracy
His Excellency’s vision also emphasizes the need to look inward and collaborate with regional economic facilitation platforms such as the Federation of West Africa Chamber of Commerce and Industry (FEWACCI) and the ECOWAS Trade Organization Network. These partnerships will play a crucial role in achieving the desired goals.
He said:
“We must look inward and work with our regional economic facilitation platforms such as the Federation of West of West Africa Chamber of Commerce and Industry (FEWACCI) as well as ECOWAS Trade Organisation Network to attain our desired goals.”
Tinubu also places great importance on political stability, peace, and security. He expresses concerns about the rise of coup d’état in West Africa and firmly advocates for the defense of democracy.
He believes that democracy and good governance are essential for achieving lasting peace and development. Tinubu aims to strengthen democratic institutions, uphold human rights, and ensure the rule of law throughout the region. He emphasizes the importance of a collective effort to maintain stability and prevent any unconstitutional takeovers.
He specifically said:
“We must stand firm on democracy. There is no governance, freedom and rule of law without Democracy. We will not accept coup after coup in West Africa again. Democracy is very difficult to manage but it is the best form of government.
“There is no one here among us who did not campaign to be a leader. We didn’t give our soldiers resources. We didn’t invest in them, in their boots, in their training to violate the freedom of the people.
“To turn their guns against civil authorities is a violation of the principles upon which they were hired which is to defend the sovereignty of their nations. We must not sit in ECOWAS as toothless bulldogs.
“You will all agree with me that democracy and good governance are the cornerstones of peace and sustainable development of every society. I’m fully committed to deepening democracy and good governance in the region.
“We must strengthen our democratic institutions and ensure the respect for human rights and the rule of law. I will enhance engagements with the countries in transition to ensure their quick return to democratic rule.”
Tinubu’s leadership as the Chairman of ECOWAS signifies a new chapter in the region’s progress. With a focus on economic growth, institution building, and democratic stability, his plans aim to drive ECOWAS towards a brighter future of shared prosperity and harmony.
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President Tinubu signs student loan bill into law
Moreover, President Bola Tinubu has officially approved the student loan bill. Dele Alake, an aide to the president, informed State House correspondents about this development.
The bill allows Nigerian students to borrow money for their education without paying any interest. Dele Alake, a spokesperson for the president, shared this news after the signing ceremony at the Presidential Villa in Abuja.
Alake said this bill would greatly support young people’s educational aspirations nationwide. However, to be eligible for the loan, students must prove they come from a poor background.
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